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not heard from democrats since then. mitch mcconnell, of course, the republican leader here in the senate, has said he has reached out to joe biden, the vice president, and not incidentally the president of the senate in that capacity. he has had a couple of conversations with him according to republican senators, one, just within the last hour, at least one, when mitch mcconnell left a closed door luncheon of republican senators to speak with joe biden by phone. we understand that joe biden, our crack white house team, put eyes on him going into the white house about 1:45 this afternoon. he was in delaware yesterday. seems unlikely at this point that biden would make the trip up to capitol hill for any face-to-face negotiations. democrats say this is simply a ruse, mitch mcconnell trying to go around harry reid, the democratic leader here and appealing to joe biden, trying to make it look in democratic estimation as if republicans are going the last mile, but, look, we're stuck. we're nowhere at this point. there was a major setback earlier. you mentioned it, the so-called chained cpi. a
president joe biden was called in by mitch mcconnell, who said he needed a dance partner in all of this. guest: if you remember on friday, the president said he was going to turn over the lead to senator reid and senator mcconnell to work out a deal that could pass the senate and that he would sign on to whatever deal that was. senator reid and senator mcconnell were not able to reach that deal. the negotiations between them have turned increasingly bitter and senator mcconnell basically said that he could not work with senator read anymore and reached out to joe biden and ask him to resume the role that he has had in previous negotiations. the arbiter, the deal maker. joe biden had not been as involved atoll has returned to washington and is now part of the negotiations in a way that he had not been expected to until yesterday. host: what will the house and senate be voting on today? will there be an agreement on the fiscal cliff or an alternative plan that would continue unemployment benefits and keep taxes at the bush era level? guest: i'm not sure that anybody knows. and that includ
there was earlier in the day. mitch mcconnell and harry reid say they're going to come out and try to hammer out a bipartisan deal that can pass the senate with enough republican votes to convince the house to act and even president obama who had been concerned that they were not going to act and challenging them for an up and down vote said he was optimistic. here's the president after that meeting. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> now what would be in that mini deal? we're talking about tax increases for people at near the top of the income scale. the question is the threshold, 400 or $500,000 are the likely places that that could end up. it would likely turn off the automatic sequester by using some of the revenue from the tax increases to account as budget cuts and turn off they is quester and it would also extend unemployment benefits and do the so-called doc fix to preve
reid, senate minority leader mitch mcconnell would try to hammer out a deal amongst themselves, get it passed through the chamber and send it to the house. house speaker boehner made it clear he had not move first. he wants to see the senate act. the ball is now in the senate's court for all intents and purposes. >> sam, isn't it a bit late in the day to be playing this game of chick snn. >> i don't know what constitutes late in the day at this juncture. i guess we have a few more days, a couple more hours here. i think there's a general consensus we probably will hit the cliff, but that doesn't mean they can't hurry and get something done a day after, two days after, do it retroactively. the hit that would be felt by families would be minimum in that case. a lot of negotiations. we'll see what mcconnell and reid can pick up and forge together. >> nbc news has been reporting that the president's holding firm to this position of not cutting taxes for people earning more than $250,000 a year. you've been talking to republicans all day. will republicans vote for a plan that looks like
is in the works or out of the question. mitch mcconnell promised aen update as soon as he had any news to make. that could happen when the senate convenes a rare sunday session of congress. looking to dominate his side of the story while leaders wrangle on the details, president obama made his first sunday show appearance in three years, sitting down with nbc's david gregory this morning to talk about the fiscal cliff. >> i'm arguing for maintaining tax cuts for 98% of americans. i don't think anybody would consider that some liberal left wing agenda. that used to be considered a republican mainstream agenda. >> joining me senator olympia sn snowe of maine. let me start with that. it does seem sort of counter intuitive to have republicans wanting to fight for tax hikes for no one and in that fight, being willing to allow tax hikes for everyone? >> you know, i would agree with that. obviously it is important to make sure that middle income america does not confront a tax increase at the beginning of next year, which is less than two days away. that is critical. the second part is, of course, is
of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious differences on both sides. >> we're not going to have any social security cuts at this stage, it just doesn't seem appropriate. i still hold out hope we can get something done but i'm not overly optimistic but i am cautiously optimistic. >> republicans pushed back on claims by democrats that the social security benefit measurement, which is known as the chained cpi and basically would reduce the amount of money that senior citizens get under social security, was part of the republican plan. in any case, that is off the table. senator john mccain posted this on twitter, most of us agree the chained cpi is off the table in these negotiations. president obama continued to put public pressure on republicans during his appearance on "meet
? what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid in hawaii for the funeral of daniel inouye and is now back to washington. it would come down to the senate doing something. senator mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to support it, perhaps he might let some of his republican senators do that, now, this is sort of thinking, coming from democrats, this is not something that mitch mcconnell at this point is planning to do, and it's very much unclear. the fact is, it doesn't just matter what the senate does, don, the house would have to pass something. and whatever were to come out of the senate at this point would require not jus
, it will come down to those pesky details. vice president joe biden and senate minority leader mitch mcconnell the republican leader have been the key figures in these negotiations after talks stalled over the weekend between mcconnell and senate majority leader harry reid. mcconnell says he and the vice president spoke last night at 12:45, again at 6:30 this morning. mcconnell explained why he reached out to his former senate colleague mr. biden. >> i also placed a call to the vice president to see if he could help jump start the negotiations on his side. the vice president and i have worked together on solutions before, and i believe we can again. >> obviously we were watching to see what the senate does at this hour, what is said at this point i'm hearing it sound like 2:00 eastern time may be another critical time, when they may run by their members, the republicans and the democrats, the latest on those talks, and if there is a deal the details of the deal, jon. jon: we just had senate majority leader read making some remarks from the microphone, perhaps i'll get to word from the control
than expected because of, say, harry reid and mitch mcconnell are able to work something out? >> reporter: i think that that is very likely. you heard president obama sort of signal that he's going to do that when he spoke on friday. he talked about the fact he'll be seeing everyone this week. we get the sense that he is prepared to cut the vacation short. i would not be surprised to see president obama heading back to washington, d.c. at the end of this week. thomas? >> set the sand on the soles as soon as you can. >> reporter: i will. >> merry christmas. thanks. >> reporter: you, too. >>> there are senators on both sides of the aisle saying that the best hope before the new year is a small and temporary deal that will at least buy americans some time. >> i think there's unfortunately only a small deal. i think we'll get past it but we have to get to the big deal. >> we can't let taxes go up on working people in this country. it is going to be a patch because in four days we can't solve everything. >> all right. let's dig in and talk more. joining me is lynn sweet and bob cu
mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> well, actually it's not a blank check the president has been pushing. and this isn't a partisan statement. look at the numbers in terms of what the public thinks about what the president ran on, which is to raise taxes for people who make over $250,000 a year. 47% of the country basically agrees with that, which is what he said. only 13% raise taxes for everybody. they are the real conservatives and fiscally hawkish i would say. and 35% say no tax increase. so americans tend to agree with the president. when you go back to this campaign, there are very few other statements he made a
republican leader mitch mcconnell adding his voice to a day that has seen a number of people talking, including that man, harry reid, the majority leader of the senate. we've been getting mixed signals. the biggest signal we got was regarding the house which is coming back to -- reconvening sunday night, and that brought the market back in a big way, but now we're hearing from mitch mcconnell and let's bring in eamon javers there on capitol hill, i mean, the rumor had been, a lot of traders talking here, eamon, that maybe there's a dell brewing between the president and the senate. that doesn't sound like anything is going on right now according to rich mcconnell. >> what we got was a facebook post from scott brown who said he was come back to washington and jumping on an airplane to review some new proposal from the president that they expected to get. the whole afternoon has been spent by reporters trying -- trying to figure out what was going on. now harry vaed responding to mcconnell so let's right to it. >> he's upset because, quote, the phone never rang. he complains i've not d
: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a smaller fallback plan to keep at least some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she's at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and all the congressional leaders in six weeks. it follows an impasse that has shaken wall street, the dow down more than 400 points since talks stalled last week. and on main street, business owners like drew greenblatt, who owns a wire basket manufacturing company in baltimore, say the coming fiscal cliff is already causing pain because they just don't know what will happen to their taxes. >> right now we're doing our budget. we're deciding how many people we're hiring next year. we're figuring out how many robots and machines we'll invest in our factories. >> reporter: and across the country all the political bickering had people o
sound from mitch mcconnell talking about the next steps. let's see if we can run that out. >> we had a good meeting at the white house. we are engaged in discussions, if majority leader, myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation. that i can make to my conference and the majority leader can make to his conference. >> i'm going to do everything that i can, i'm confident senator mcconnell will do the same. but everybody, this is -- whatever we come up with, this is going to be imperfect. and some people aren't going to like it. some people will like it less. but that's where we are. and i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. we're going to do the best we kp for the caucuses that we have and the country that's waiting for us to make a deposition exhibit. >> clarence, you've seen this movie before. it sounds like something is in the works here, huh? >> yeah, something is in the works at least on the senate side. on the house side, we still don't k
of in the works between harry reid and mitch mcconnell, maybe it's not voted on until monday, maybe no deal at all. maybe sequestration is going to happen so for that let's go to washington. >> juliet: all right. tick-tock, tick-tock, time is almost up for lawmakers as we say to avert the fiscal cliff. they worked throughout the weekend in hopes of hammering out some sort of deal. >> dave: peter doocy is live in washington and we hustle you over to the capitol. and what is the latest, do you think we'll get something done? >> reporter: dave, we were told late in the evening that legislative staff was going to work through the night, but the only principal we heard from was mitch mcconnell who said he and his democratic counterparts have been trading paper all day saturday, but the only big news, mcconnell cared to share with us, in the state he represents, kentucky, louisville beat the university of kentucky by three and meanwhile, the officially republican weekly address features another republican senator explaining once again why a deal before monday night's deadline is so important. >> at a ti
are still pointing fingers. take a look at mitch mcconnell and harry reid just this afternoon. >> you'll excuse me if i'm a little frustrated at the situation. >> republican leader finds himself frustrated. >> i say i'm frustrated because we have been asking the president and the democrats to work with us. >> he complains i have not delivered the votes. he's in error. >> i told the president i would be happy to look at whatever he opposes. >> he's upset because, quote, the phone never rang. >> as i said, this is a conversation we should have had months ago. >> we have nobody to work with, compromise. >> republicans aren't about to write a blank check. >> we can't negotiate with ourselves. that's all we're doing. >> we don't have many days left. >> we're in the same situation we have been in for a long time. >> as you can see, senate is back in session today. the house plans to be back on sunday. more now on the breaking news. dana bash joins us now from capitol hill. chief white house correspondent jessica yellin on the north lawn tonight. dana, i'll start with you. you listened to bi
pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time president obama has met face to face with congressional leaders since mid-november. duarte, tick tock. >> thank you. >>> general schwarzkopf is being remembered this morning as a great hero and tactician. as teresa garcia the general died yesterday at his home in tampa from
are expecting to hear from republican leader mitch mcconnell, maybe even senate majority leader harry reid, as of now so far as we know there is no fiscal cliff deal, but negotiations primarily betweens those two men are going on even as we speak or between their staffs. we're hearing a new sense of optimism from some senate members who believe they might be able to pass some kind of minimalist package that would keep tax rates from going up on the majority of americans. i want to go to capitol hill and cnn's senior congressional correspondent dana bash. dana, is that the sense you get that somehow we should be optimistic about whatever it is that's going on? >> you know, as we talked about before, you definitely get a feeling or the atmosphere here is that there is progress being made but in the same breath, but, there are still thingsing to worked out. as we wait for what we generally see when the senate opens which is the pledge of allegiance, a prayer and so forth, if you see the bottom of your screen, i'm not sure if you can see it, white hair, that is harry reid, the senate majority
then what we've been hearing from republicans, particularly mitch mcconnell's office is we can't talk about whether we can pass anything until we actually see the legislation. so our understanding from these sources who are familiar with the call and familiar with the process is that the president will put the plan in legislate lative language. what is the plan? the president's tax plan he campaigned on for five years which is to let the tax plan expire for households making less than $250,000. he would add unemployment insurance. the thinking here is he would potentially also add extending the estate tax cut. the estate tax has been at a relatively low level. it expires also at the ipd of the year. but, you know, this is all you know, to'ing and fro'ing right now to see if it's possible to pass anything to keep most americans' taxes where they are before the end of the year when everybody's tax go up. >> we heard from senator reid earlier today. they were dealing, in his words, with a dictatorship. are we expected to hear from him or any of the players from the hill in terms of trying to m
of that stopgap, scaled down version. in fact, mitch mcconnell himself said in the hallway, just moments ago, that he does expect to go to the white house, as jessica just alluded to. he expects to do that tomorrow. they haven't gotten a formal invitation tomorrow. there's no time set for this meeting tomorrow, but mitch mcconnell says he does expect to go. and so that really does speak to the next move, tomorrow. >> well, that is good news. that is good news, senator mcconnell going to the white house tomorrow, hopefully. but i'm going to ask you about the house of representatives, dana. right now they've been called back to washington, not until sunday, december 30th. now, 48 hours before the fiscal cliff goes over, is that really enough time to get legislation passed, if there's a real deal on the table? >> reporter: is it enough time? probably. if there's really something that is going to pass the senate, and this is a big if, as jessica said, the oddsmakers are definitely seeing the fiscal cliff happening, us going over the fiscal cliff, but if senate does pass something, that would be
get past this fiscal cliff, boehner and mitch mcconnell have made it clear the president wants a debt ceiling increase of any amount, like $1 trillion, he has to find $1 trillion in savings. >> well, according to corker and alexander, this is $1 trillion in savings from the medicare program if you do what they are suggesting here. >> all from spending, i hope? >> that's what they are saying. >> if it's all from spending, that's something we could do as part of the debt ceiling. that -- that's a fine suggestion. it -- it just shouldn't be confused with the present mess this week. >> but, they are adding this to the conversation if -- i mean, obviously we're not going to get something comprehensive before december 31, but as the talks continue, assuming they do into january, maybe even longer as we get closer to the debt ceiling, is this a kind of a compromise that you can accept on the other side? >> yes. it is very clear that boehner and mitch mcconnell have made clear, if the president wants a dollar of debt ceiling increase, we need to cut spending a dollar, and that goes for $1 tri
in the remaining time before new year's eve and take a listen to senate republican leader mitch mcconnell earlier today explaining the problems he's facing in washington. take a listen. >> the truth is we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> we do know that the house of representatives has been told that the members there should be back in town here in washington expecting votes on sunday at 6:30 p.m. on sunday and we don't be what that will be and we should get more clarity on that tomorrow if there is, in account fa, a meeting at the white house we might find out what they're hammering out behind closed doors. >> thus far, democrats have refused to do any meaningful entitlement reform and republicans have refused to do anything related to taxes. we both know each side wants a piece of the other to do those exact things and both sides still refuse. is there anything that
will like it less but that is where we are. >> chris: the two senate leaders, mitch mcconnell and harry reid on the last-ditch effort to put together a deal to avoid the fiscal cliff and it is time now for our sunday group, bill kristol of the weekly standard, former democratic senator evan byah and byron york from the washington examiner and kirsten powers of the daily beast web site. you heard mitch mcconnell say he's hopeful and optimistic. will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, n
and mitch mcconnell are working on. the question is can they device something in the next 24 hours that would set an income tax hike threshold of 400 or $500,000. it would also include steps to use that revenue to defer the sequester, those automaticin discriminate budget cuts that nobody wants to happen. the question is going to be, can they get that done and get enough republicans in the senate to support it to convince the house to take it up? if not, the president and democrats are going to dare republicans to block an up or down vote on the president's proposal of tax hikes for everyone over $250,000. >> john harwood joining us from washington this evening. thanks so much, john. >>> and a program note. david gregory will have an exclusive interview with president obama on the fiscal cliff crisis this sunday on "meet the press." >>> and now to the weather. and more snow is on the way as we head into the new year's weekend, and that may not be the end of it. the weather channel's chris warren joins me now. chris, good evening. >> good evening to you, too, natalie. we are watchin
reid was just -- wasn't he great yesterday talking about mitch mcconnell and the republicans? no budget. >> and more than 14,000 longshoremen could go on strike this weekend because of a contract dispute. a walkout would close cargo ports. some estimates say a strike could cost the economy $1 billion a day. which would add up. it would kind of counteract the 85 billion. but bernanke is doing 2 billion a day, right? >> more. >> 2.5, yeah. so that would take away -- we could easily rachet it up. unless the printing presses overheat at that point. let's check on the markets this morning. the futures were indicated lower based on angst. there it is worse. it was down 40 earlier, not out 62. they were down 150 at one point. came back down to 18. we're somewhere. >> between there. let's check out some of these other boards that maybe we missed in the last hour. europe, europe is even moving on angst about the fiscal cliff or that stuff in japan. i don't know. very close. it's one or the other. let's check out asia. asia is actually up this morning. and then let's check out the oil board. oil
at this point is not in discussion with not only speaker john boehner but the senate minority leader, mitch mcconnell and perhaps because of that, you have some of that pessimism of senator liberman being shared by republicans. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes and sees a political victory at the bottom of the cliff. gets additional tax revenue, gets to cut the military which democrats have been calling for for years and blame republicans for it. >> now, all eyes are now on the senate, which will reconvene on thursday. seen as likely that president obama will head back to washington from hawaii here. senate minority leader harry reid has the task of trying to conjure up something that might be able to pass the house in addition to the senate publicly. the white house is saying they want tax rates to remain in effect for those making up to $250,000 per year, but it's unclear if that's something. very unclear, very unquestioned that house republicans could swallow that. we're hearing aing you significant possibility we go over
afternoon and senate republican leader mitch mcconnell responded. take a listen. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them two in fact. they're not here. they're not here. john boehner seeps to care more about keeping his speakership than about keeping the nation on firm financial footing. >> reporter: there have been all eyes on senator mitch mcconnell, the republican leader, the counterpart to harry reid because he has been pretty quiet early on in the negotiations. was defering speaker boehner to give the republican side. after hearing senator reid yesterday, senator mcconnell fired back. take a listen. >> we're coming up against a hard deadline here and i said, this is a conversation we should had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: now senator mcconnell also said he was disappointed because when he got a call from the president two nights ago right before the president left hawaii to c
before then. mitch mcconnell telling us they have been going back and forth all day and talks are continuing into the evening. no major progress though yet to report. and that is how fox reports on this saturday, december 29th. i'mm harris falkner. tomorrow, tune in for a specialal two-hour fox report as the fiscal cliff deadline nears on the eve of the last stock market day of theae year. we will be all over it with deadlines and they are trying to get a vote, something together. "huckabee" starts now. >> this week on the journal editorial report. a look back at the year that was and what is ahead for 2013. 2012 was a tough year for conservatives on the national level, but in the states, some hopeful signs of reform, and looking forward, is the economy headed for rebound orie session? will the new year bring a with iran? our panel is here with their prediction. >>> welcome to this special edition of "the journal editorial report" as we look back at the year that was and the challenges that face us in 2013. first to our stories of 2012 and america's left turn from the supreme
americans. this leaves mitch mcconnell in a weird, grey area. he recognizes the gamesmanship and a need to get a deal done and he has a eye on the republican party's conservative base which is relentlessly opposed to any tax increase and senator mccobb nell is up for re-election in 2014 where tea party rebellion toppled his own protÉge and instead, send rand paul to the senate. i'll bring in nbc news capitol hill correspondent, kelly o'donnell. >>> waiting for action here today. >> reporter: it seems pretty quiet at the moment, steve. it's one of those things where you feel like something big is going to happen but as you walk through the corridors here, it seems pretty quiet at the moment. >> well, we have all sorts of conflicting reports out there about what the broad framework would be if there's going to be a deal. i guess the big stumble bling block is number one, what is the fresh hold be for the tax income? $250,000 which obama originally proposed? $400,000 which he supposedly offered in a revised offer a week ago? and then, of course, the status of the sequester. we have $1.2 t
24 hours would be very important as he and mitch mcconnell put together something that would pass both of their caucuses. and then of course it would have to go to the house. the majority leader harry reid said he's readying a bill for a vote on monday to prevent a tax hike on incomes up to $250,000. senator reid said his bill will include unemployment benefits, a continuation of those. that would be sort of the plan b for democrats simply because what they would rather do is get a bill with senator reid working in conjunction with senator mcconnell. senator reid said he's awaiting good faith proposals from the republicans. president obama said after the meeting that he is modestly optimistic a deal can be reached, but as you can hear from senator reid, the president asked that if a deal between republicans and democrats cannot be reached, then the president wants just an up or down vote on what he wants, which is quite simply no income tax rates going up for people making $250,000 and under. and an extension of long-term unemployment benefits. and that's of course for the long-te
cliff negotiations, don, have just come down to two men tonight, senator mitch mcconnell of the republicans and then vice president joe biden. we'll find out in the morning whether they were able to make any progress. back to you, don. >> fingers crossed. thank you. we'll have more on these developing stories at the top of the hour. >>> usain bolt is the fastest human being the world's ever known, but i wonder how he'd fair running against the animal jack hanna has just brought out. jack, we seem to have a large, fully formed cheetah. >> this is a cheetah, goes 70 miles an hour. we clock him at 70. the cheetah's eyesight is impeccable, two miles they can spot a rabbit. >> two miles? >> yes. turn him around here for a second. look at his eyes, let the guys pick him up on the camera. notice the dark marks under his eyes like a football player, baseball player, mother nature invented that because the cheetah's one of the only cat to hunt in the heat of the day, 110 degrees outside, they have to hunt. they are a weak cat. look at the foot, you got good guys on these cameras.
harry reid and mitch mcconnell's offices. both the senate and house are meeting today. joins me touk at that about where things stand is darrell issa of california and done nan edwards and michigan senator debbie sab snow and jon ba wrasse o from wyoming. what's up? what is happening that you can tell us about? >> well, there's a lot of work going on right now on both sides of the aisle in the senate to come to an aagreement. to me there's take basic principle, and if everybody agrees we can go forward. that is, don't hold middle class families hostage to the debate about whether or not the wealthiest americans should get another tax cut. i would argue we can't afford it as a country, but the question is, are we going to allow middle class families to see their taxes go up while we have this debate? if we can agree we will continue tax cuts for the middle class, everything else begins to fall into place. >> wlho is working at this moment? are you involved in this? >> i've been in touch with those involved in this. there is no deal yet. i continue to hope for a bipartisan agreement to
. senate majority leader harry reid, minority leader mitch mcconnell will try to hammer out a deal and by all accounts, it will be a smaller deal, thomas. >> nbc's kristen welker traveling with the president in hawaii. kristen, thanks so much. joining us to talk about the chances of reaching a deal, democratic congressman from minnesota, keith ellison. sir, it's good to have you here, and do you think, as you hear what kristen is reporting there, that it's -- that it's still optimism that this could get done by the end of the year, but slim. do you think that it could get done, and is it going to get gone because of the onus now being on the senate? >> i think that we will have a deal. of course, no one can guarantee that. the real question is will boehner put a deal on the floor that enough of us democrats can vote for? that's the real question. the fact is he can't even get enough republicans to vote for that tea party wish list he put on the floor last week. so what he needs to do is come to the other direction to pick up enough votes to get a deal. now, that's going to take som
around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president since november 16. why is-- is there something the president is responsible for that he's not reached out enough to republicans and established that kind of trust that there has been lacking? >> look, i would have liked to have seen the president do more reaching out during the entirety of his first term. keep in mind, the president has been negotiating with john boehner, and that was the agreed upon format. he's been in conserves with him, and when push comes to shove, boehner cannot get these deals done in his caucus. the big change is not in the white house. it's in the culture of congress. it has become increasingly partisan. increasingly polarized districts in the aftermath of redistricting. we have seen that over the decades but particularly the last decade. you have seen a real hardening on both sides. and they're not
. this is spokesperson from senator mitch mcconnell's office. last night the president called senator mcconnell, the first democrat to do so on the fiscal cliff since thanksgiving and other leaders to talk about the need for the senate to act. the leader is happy to review what the president has in mind but to date the senate democrat majority has not put forward a plan. when they do members on both sides of the aisle will review the legislation and make decisions on how to best proceed, end quote. this is a serious back and forth. let's get some perspective. chief congressional correspondent mike emanuel is live for us in washington. a short time ago, another key lawmaker did not sound very optimistic, mike. >> reporter: harris, you would be right. that would be senate majority leader harry reid. seemed kind of irritated that house republicans and all house members are not here in washington trying to work out a deal on the fiscal cliff. here is more from leader reid a short time ago. >> if we go over the cliff and it looks like that's where we're headed, mr. president, the house of rep
? the republican leadership, mitch mcconnell and john boehner and the whole rest of them made an unholy alliancalliance. they said instead of watching the tea party rise up and become a third force in american politics, which is what says, they said we're going to try to bind these two things together. we don't wants it to sflit apart the right. we try to pretend like we're one party. they're clearly not one party. john boehner may get re-elected as speaker, but he has no more authority to control the caucus to get them to stroet for his own budget proposals than he does today. the optics may change and we'll go over the cliff and taxes go up and they're presented with the ability to lower taxes and john boehner won't have any authority because he tries to run two parties and not one. until republicans deal with na and until the leadership says we made a mistake, these are a different group of people and have darch the agenda for us, they stop us taking national power. until that happens, we'll be in the mess for a another couple of years at least. >> i totally agree with that. i think
to report. no conversations with republicans yet. senate republican leader mitch mcconnell who can filibuster anything reid proposes, his spokesperson saying quote, no outreach from any dems. we're waiting on senate dems. so, if nothing is done, that means on january 1st, the nation faces about a five trillion dollar tax increase over 10 years through the expiration of the bush tax cuts and assuming congress does not approve its annual patch for the alternative minimum tax and that medicare doc fix that prevents deep cuts in medicare payments. now the lapse of the tax cuts would mean that the top tax rate would revert back to 39.6 from the clinton administration from 35% now but taxes would also go up for lower income earners. the maximum low rate would revert back to 15% from 10% now. the for investors, capital gains rates would revert to 20% from 15% now. depending on the analysis, the average family would pay 2,000 to 4 thou more in taxes next year. back to you guys. tracy: peter we were talking about the protocol. you sent a great little ted it about. you have to explain it to
is with mitch mcconnell because this will have to, if we're going to get a deal done originate in the senate. really the roadblock, absolutely democrats will have to compromise on spending cuts 100% but republicans where we have a standstill on this idealogical difference do we raise taxes at all so yeah. gregg: let me ask tony about that since he is the republican. speaker boehner, tony, couldn't even bring his plan up for a vote. i mean it was pretty embarrassing. has he lost control of his own party and failed in his job as leader in the house? >> well, look, speaker boehner has a very hard task and he has already tried ernestly you say a lot of things about him but can't say he hasn't tried to bring two ideas in the forefront. one that works within the bowles-simpson, bipartisan debt commission's framework of tax revenue being part of it but the majority of reform coming from spending cuts. he had the plan b which i think fairly raises threshold. gregg: that was easy for republicans to pass and he couldn't even get votes to put it on the floor. >> without a doubt, gregg, that was a failu
. success depends partly on whether mitch mcconnell decides to filibuster any legislation. there is senate republicans who are willing to compromise in order to avoid the fiscal cliff. including kay bailey hutchison of texas and johnny isakson of georgia. >> time is running out. and the truth of the matter is, if we do fall off the cliff after the president's maturitied, he'll come back, propose just what he proposed yesterday in leaving washington and we'll end up adopting it. why should we put the markets mn such turmoil and the people in misunderstanding or lack of confidence? why don't we go ahead and act now? >> the president is insisting tacks go up for the wealthy, but he's now scaled back his expectations for the rest of the year focusing only on a middle class tax cut and extended unemployment benefits. he said he still thinks some kind of deal can be reached, but that optimism is not shared by everyone. >> in the aftermath of the house republicans rejecting speaker boehner's so-called plan b, it's the first time that i feel it's more likely that we will go over the cliff than not
to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible
we go over, 30% chance we don't. i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of other stuff that has to go into what the president talks about before he left on friday, which is the tax rates. he didn't talk about payroll tax cut, amt, a number of things. there's a lot that has to go into a final deal and how they get that done. >> my worry is we're not talking about early january, we're talking about late january. >> i think it's probably more mid january if we go over. because i think you'll see market reaction, and you'll see a lot of people freak out, and it's a problem. >> market reaction, would you think -- >> people still think it's, you know, we get a deal. last-minu
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